I tried several times to read this but the information is dense and kind of thrown in your lap: a thorough explanation of all kinds of retirement plans and benefits, IRS documents, etc. By the first 25%, it felt like reading a government description of forms you need to fill out: form XX453X for this case and then use form XX35X in this case, but don't forget form XXX8J if that case scenario and form X4560 if the latter two don't apply. It was extremely confusing as a result.

I'm sure there is solid information in here but it feels denser than bark and just as dry. Without providing the overarching information from which to get a good starting point on one's own financial starting point, going so much into detail with unique scenarios felt defeating and pointless, giving no good place to get grounded, A lot of the items covered in the beginning didn't even feel relevant to my situation. I'll have to try this again at a later date. I don't recommend getting this on Kindle as a result. Reviewed from an advance reader copy provided by the publisher.

“Retirement 101,” by Michele Cagan, is an excellent book for learning how to effectively save for retirement. The updated second edition addresses important aspects of retirement planning and is suitable not only for those who are nearing retirement or are retired, but also those who are in the beginning or midst of their careers.

The author recommends starting to save for retirement as early as possible. This allows savers to benefit from additional years of compounded growth that can result in substantially higher savings for retirement. The author also suggests periodically (e.g., annually) increasing contribution amounts and discusses how to manage expenses and debt to optimize cash flow.

Regarding retirement accounts, the author examines applicable rules for both the traditional and Roth versions of 401(k) plans and individual retirement accounts (IRAs)—including contribution and income limits, withdrawals, required minimum distributions (RMDs), penalties, and taxes. The author also reviews health savings accounts (HSAs) and how they can help pay for medical expenses during retirement.

To maximize savings and protect wealth, the author provides guidance on how to productively invest at various career stages. This includes investing more aggressively in earlier years vs. more conservatively in later years, investing in several asset classes (e.g., stocks, bonds, real estate) to minimize correlation, and diversifying within asset classes (e.g., spreading stock investments across multiple sectors).

For those in or nearing retirement, the author thoroughly covers Social Security and Medicare. For Social Security, this includes when to start taking benefits, how to apply, cost-of-living adjustments, spousal benefits, how other earnings impact benefit amounts, and how benefits are taxed. For Medicare, this comprises how and when to enroll, as well as the specifics of Medicare Parts A, B, C, and D.

“Retirement 101” will help readers constructively plan and save for retirement. The author satisfactorily explores the above areas and many other facets of retirement planning. For further reading, the author has also written or contributed to other “101” titles (from this publisher) on personal finance, investing, Social Security, and taxes.

[My special thanks to Adams Media (Simon & Schuster) and NetGalley for an advance reading copy of this book.]

Thanks to NetGalley and Adams Media for the digital copy of this book; I am leaving this review voluntarily.

I’m constantly reading articles and books about retirement, even though I’m still 15 years away. I wish I would have paid closer attention when I was younger, although at age 22, I did take advantage of my employer’s 401K plan. I’m always telling my husband, who is retired, that we need to concentrate more on saving money because we have enough assets for HIS retirement, but not enough to cover MINE.

Retirement 101 breaks down the whole deal for Americans, that is, unless Republicans in Congress slash Social Security benefits and slash Medicare and Medicaid. Because those are very real and current issues, I find this book a good guide, but so much is about to change in one way or another that I feel a 3rd edition might need to be made once Congress makes up their mind on how they are going to screw over millions of retirees and those whose retirement is not too far off.

Roth IRAs, 401Ks, 403Bs, Pensions, Annuities, you name it–this book has it. Of course, I’ve read all this information elsewhere, but it’s nice to have it all in one source. Written in an easy-to-understand way, even though I knew all this data, it does provide guidance for those who may not have thought about the topic too much.

Which is a mistake. I give my kids a letter I created once a year. It’s called Financial advice, with tips and tricks that my husband and I have learned over the years. I resend it to them yearly because they are all teens/young 20s, and much of the stuff they don’t need to worry about right now, like mortgages and Roth IRAs. But every year, they may encounter new things that they glossed over the year before. For instance, my 15-year old got a job that offers even part-time workers the opportunity to contribute to a 401K Retirement Savings plan. If I also buy the kids this book, it’s a great add-on to things we’ve already taught them.

As with any financial advice, this is a good reference book, but always consult a professional before you make decisions about saving money.

What a great resource for all age groups!
Buy this if you are thinking of Retirement! You want to get a plan together!
I want to retire tomorrow, and with this guide, I will be ready!
Thanks Netgalley!

My husband and I have read so many books to plan for the future and this book is the one! I was amazed how well done this was and just on point with understandable explanations and ideas.

A good and broad look at issues to consider when approaching and/or planning for retirement. Much of what I read here is similar to other books I have read

Basic but useful information about retirement and retirement planning. The author clearly lays out the complicated set of choices and decisions a person who is considering retirement must face. One must carefully consider three areas: (1) retirement savings and plans; (2) Social Security; and (3) health insurance - most commonly Medicare. I knew what these would involve in broad strokes; the author supplied many details and tips. Recommended, but given the complexity of the whole topic it is even more strongly recommended to consult a personal retirement planner/advisor.

Thanks to Netgalley and the publisher for an ARC.